Describing the three savings

Reference no: EM1311476

1. What is national saving? What is private saving? What is public saving? How are these three variables related?

2. According to the rule of 70, how long will it take for your income to double if you get a 5 percent raise every year? If you start work at the age of 23 earning $40,000 per year and get a 5 percent raise every year, how much will you be earning if you retire at 65?

Reference no: EM1311476

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